- This past week saw significant movements in the cryptocurrency market.
- Several digital assets experienced notable gains and losses, highlighting market volatility.
- Helium, Aave, and THORChain were the top performers, while Dogwifhat, Brett, and Mantra recorded the most significant declines.
Discover the latest breakthroughs and setbacks in the crypto market, examining the top gainers and losers and their impact on the broader financial landscape.
Top Gainers of the Week
The past week was led by Helium (HNT), which demonstrated a strong performance by securing its position among the top gainers for the second time this month. Aave (AAVE) and THORChain (RUNE) also showed impressive upward momentum, reflecting renewed investor confidence and market dynamics.
Helium (HNT)
Helium (HNT) emerged as the leading gainer, posting a remarkable 19.5% increase over the week, as per CoinMarketCap data. Despite starting the week with an 8% drop, Helium recovered with a significant 14% surge, finally closing at approximately $7.6. Analysts noted strong buying momentum, reflected in its RSI close to 70, indicating overbought conditions. Helium’s market capitalization soared to over $1.2 billion, with trading volumes surpassing $24.5 million.
Aave (AAVE)
Aave (AAVE) rebounded after a challenging period, with a nearly 18% gain over the week. Starting at around $94, Aave hit a peak of $115 before stabilizing at $111 by week’s end. Despite a late-week decline in market capitalization and volume—now at $1.6 billion and $131 million, respectively—Aave’s recovery underscores its solid resilience and renewed investor interest.
THORChain (RUNE)
THORChain (RUNE) also had a profitable week, growing by more than 17.8%. Rallying from about $3.4 to close to $4, RUNE’s market capitalization rose above $1.3 billion, although trading volume saw a decrease, currently at over $150 million. This suggests a cooling period after initial strong buying activity, likely leading to consolidation.
Biggest Losers of the Week
Conversely, Dogwifhat (WIF), Brett (BRETT), and Mantra (OM) experienced significant declines, emphasizing the volatility inherent in the cryptocurrency market.
Dogwifhat (WIF)
Dogwifhat (WIF) faced a tough week, dropping by over 23.8%. Starting with a significant 10.25% fall, it briefly bounced back before entering a four-day decline cycle, ending the week at approximately $1.4. With its RSI below 40, WIF remains in bearish territory, reflecting strong selling pressure and limited buying interest. Its market cap is around $1.4 billion, with a trading volume exceeding $226 million.
Brett (BRETT)
Brett (BRETT) reported a drop exceeding 20.6%. Starting at around $0.099, BRETT consistently declined, closing the week at roughly $0.079. This trend indicates bearish market sentiment, with a significant decrease in market cap and trading volume, now at $786 million and $18 million, respectively.
Mantra (OM)
Mantra (OM) saw a decline of over 16%, falling from approximately $1 to around $0.9 over the week. The decreased market capitalization and trading volume—currently at $753 million and $15 million—indicate a lack of investor confidence and reduced market activity.
Conclusion
This week’s recap reveals the inherent volatility in the cryptocurrency market, highlighting significant gains and losses. Investors should conduct thorough research (DYOR) before making any investment decisions, as market conditions can change rapidly.
